Biden Plans to Block Takeover Bid of U.S. Steel 

“President Biden has decided to block the $14 billion takeover of U.S. Steel by Nippon Steel of Japan in an announcement expected as soon as Friday based on grounds that the sale poses a threat to national security,“ the New York Times reports.

“The decision would be an extraordinary use of executive power, particularly for a president who is just weeks from leaving office. It is also a departure from America’s long-established culture of open investment, one that could have wide-ranging implications for the U.S. economy.”